Question: QUESTION ONE (20 Marks) PART A-5 Marks ( Mark Each) Study statements 1 to 10 below. For each statement choose the one appropriate descriptor from
QUESTION ONE (20 Marks) PART A-5 Marks ( Mark Each) Study statements 1 to 10 below. For each statement choose the one appropriate descriptor from the list (A-J below) that best matches it. Candidates are not required to rewrite the statements in the answer booklets state the statement number and your choice of letter A to J. An answer can be used only once Descriptors A. Account B. Normal account balance C. Debit D. Revenue account E. Compound entry F. Journal G. Posting H. Chart of accounts Trial balance .Simple entry Statements 1. An entry that involves three or more accounts 2. Transferring journal entries to ledger accounts 3. The side which increases an account. 4. A list of all accounts used by an enterprise 5. A record of increases and decreases in specific assets, liabilities, and equity items. 6. Left side of any account 7. An entry that involves only two accounts. 8. A book of original entry 9. A list of accounts and their balances at a given time 10. Has a credit normal balance
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